Eni Announces Gas Discoveries in Pakistan

Eni S.p.A. reported continued success in its Pakistan drilling campaign, announcing new gas discoveries in the South Asian country.

Eni's latest success relates to the Tajjal 1 exploration well, which reached new gas within the Gambat Exploration License, in the Sindh Province. The Gambat License is managed by a Joint Venture composed of Eni (30%), OMV (35% Operator), PPL (30%) and GHPL (5%). The exploration well has been drilled south of the Sawan producing field, reaching a total depth of 3,845 m and encountering gas at different sand levels.

Eni also recently drilled the Kadanwari 18 well, finding a gas-bearing formation at a depth of approximately 3,400 m, in a rock formation independent from the main field. The success of the Kadanwari 18 well represents an important addition of reserves to the main field, and indicates new prospects in the area. Eni (18.42%) is Operator of the Kadanwari Production lease (with Premier Kufpec Pakistan 31.58% and OGDCL 50% as partners).

The recently drilled Latif 1 exploration well reached a total depth of 3,520 m and encountered three hydrocarbon layers. The Joint Venture is now considering further appraisal activities to delineate the extent of this discovery more accurately. This discovery is located close to the Kadanwari producing field, operated by Eni. The Joint Venture of the Latif Exploration License is composed of Eni (33.3%), OMV (33.4% Operator), and PPL (33.3%).

Eni, through its subsidiaries in Pakistan, is the largest foreign gas producer in Pakistan, with a net share of approximately 55,000 barrels of oil equivalent per day. Eni has been present in Pakistan since 2000 and has since substantially expanded its presence. Eni now has an interest in seven producing fields, all with growth potential, and in 12 onshore exploration blocks, five of which are operated. Recognizing the high potential of this area, Eni has recently acquired three offshore exploration blocks in the Indus Delta.

In order to strengthen and expand on its existing activities, Eni has planned to invest 170 million US dollars in Pakistan during the next three years, mainly on development activities and 110 million dollars for new exploration.